Micro, Small and Medium Enterprises Development Act, 2006
id:
micro-small-and-medium-enterprises-development-act-2006-255-12048338
title:
Micro, Small and Medium Enterprises Development Act, 2006
text:
The Micro, Small and Medium Enterprises Development Act, 2006 is an Act of the Parliament of India. According to the act, "any buyer who fails to make payment to MSMEs, as per agreed terms or a maximum of 45 days, would be liable to pay monthly compounded interest at three times the bank rate notified by RBI".
Industries are divided into 2 categories. Manufacturing and services. They are further divided into micro, small and medium. For both, manufacturing and services sectors, micro industries'
brand slug:
wiki
category slug:
encyclopedia
description:
Indian law that penalizes buyers of businesses who fail to pay as agreed
original url:
https://en.wikipedia.org/wiki/Micro,_Small_and_Medium_Enterprises_Development_Act,_2006
date created:
date modified:
2023-12-21T22:29:10Z
main entity:
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image:
{"content_url":"https://upload.wikimedia.org/wikipedia/commons/5/55/Emblem_of_India.svg","width":549,"height":875}
fields total:
13
integrity:
15